RBC FUNDS AND RBC PRIVATE POOLS 2017 …funds.rbcgam.com/pdf/information/rbc-fs-2017.pdfThe table...

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2017 Annual Financial

Statements

RBC FUNDS AND RBC PRIVATE POOLS

1

TABLE OF CONTENTS

BALANCED FUNDS AND PORTFOLIO SOLUTIONSRBC Monthly Income Fund 338RBC U.S. Monthly Income Fund 354RBC Balanced Fund 368RBC Global Balanced Fund 388RBC Vision Balanced Fund formerly, RBC Jantzi Balanced Fund 404RBC Conservative Growth & Income Fund 415RBC Balanced Growth & Income Fund 423RBC Global Growth & Income Fund 434RBC Retirement Income Solution 441RBC Retirement 2020 Portfolio 448RBC Retirement 2025 Portfolio 455RBC Retirement 2030 Portfolio 462RBC Retirement 2035 Portfolio 469RBC Retirement 2040 Portfolio 476RBC Retirement 2045 Portfolio 483RBC Retirement 2050 Portfolio 490RBC Select Very Conservative Portfolio 497RBC Select Conservative Portfolio 505RBC Select Balanced Portfolio 513RBC Select Growth Portfolio 521RBC Select Aggressive Growth Portfolio 529RBC Select Choices Conservative Portfolio 537RBC Select Choices Balanced Portfolio 544RBC Select Choices Growth Portfolio 551RBC Select Choices Aggressive Growth Portfolio 558RBC Target 2020 Education Fund 565RBC Target 2025 Education Fund 572RBC Target 2030 Education Fund 579RBC Target 2035 Education Fund 586

CANADIAN EQUITY FUNDSRBC Canadian Dividend Fund 593RBC Canadian Equity Fund 603RBC QUBE Canadian Equity Fund 613RBC QUBE Low Volatility Canadian Equity Fund 620RBC Trend Canadian Equity Fund 629RBC Vision Canadian Equity Fund formerly, RBC Jantzi Canadian Equity Fund 636RBC Canadian Index Fund 644RBC OShaughnessy Canadian Equity Fund 652RBC OShaughnessy All-Canadian Equity Fund 660RBC Canadian Equity Income Fund 667RBC Canadian Small & Mid-Cap Resources Fund 676

MANAGEMENTS RESPONSIBILITY FOR FINANCIAL REPORTING 3

INDEPENDENT AUDITORS REPORT 4

RBC FUNDS

MONEY MARKET FUNDSRBC Canadian T-Bill Fund 6RBC Canadian Money Market Fund 12RBC Premium Money Market Fund 18RBC $U.S. Money Market Fund 24RBC Premium $U.S. Money Market Fund 30

FIXED-INCOME FUNDSRBC Canadian Short-Term Income Fund 36RBC Monthly Income Bond Fund 46RBC Canadian Bond Index Fund formerly, RBC Advisor Canadian Bond Fund 53RBC Canadian Government Bond Index Fund 59RBC Bond Fund 65RBC Vision Bond Fund formerly, Phillips, Hager & North Community Values Bond Fund 86RBC Global Bond Fund 97RBC $U.S. Investment Grade Corporate Bond Fund 115RBC Global Corporate Bond Fund 126RBC High Yield Bond Fund 160RBC $U.S. High Yield Bond Fund 171RBC Global High Yield Bond Fund 181RBC Strategic Income Bond Fund 197RBC Emerging Markets Foreign Exchange Fund 204RBC Emerging Markets Bond Fund 211RBC Emerging Markets Bond Fund (CAD Hedged) 223BlueBay Global Monthly Income Bond Fund 229BlueBay Global Sovereign Bond Fund (Canada) 253BlueBay Global Investment Grade Corporate Bond Fund (Canada) 262BlueBay European High Yield Bond Fund (Canada) 272BlueBay Emerging Markets Corporate Bond Fund 282BlueBay Global Convertible Bond Fund (Canada) 293BlueBay $U.S. Global Convertible Bond Fund (Canada) 305

MANAGED PAYOUT SOLUTIONSRBC Managed Payout Solution 317RBC Managed Payout Solution Enhanced 324RBC Managed Payout Solution Enhanced Plus 331

2

NORTH AMERICAN EQUITY FUNDSRBC North American Value Fund 682RBC North American Growth Fund 693

U.S. EQUITY FUNDSRBC U.S. Dividend Fund 703RBC U.S. Dividend Currency Neutral Fund 712RBC U.S. Equity Fund 721RBC U.S. Equity Currency Neutral Fund 730RBC QUBE U.S. Equity Fund 739RBC QUBE Low Volatility U.S. Equity Fund 746RBC QUBE Low Volatility U.S. Equity Currency Neutral Fund 755RBC U.S. Equity Value Fund 762RBC U.S. Index Fund 770RBC U.S. Index Currency Neutral Fund 782RBC OShaughnessy U.S. Value Fund 788RBC U.S. Mid-Cap Growth Equity Fund 796RBC U.S. Mid-Cap Growth Equity Currency Neutral Fund 804RBC U.S. Mid-Cap Value Equity Fund 811RBC U.S. Small-Cap Core Equity Fund 818RBC U.S. Small-Cap Value Equity Fund 826RBC OShaughnessy U.S. Growth Fund 834RBC OShaughnessy U.S. Growth Fund II 842RBC Life Science and Technology Fund 850

INTERNATIONAL EQUITY FUNDSRBC International Dividend Growth Fund 857RBC International Equity Fund 866RBC International Equity Currency Neutral Fund 876RBC International Index Currency Neutral Fund 883RBC OShaughnessy International Equity Fund 889RBC European Dividend Fund 898RBC European Equity Fund 906RBC European Mid-Cap Equity Fund 915RBC Asian Equity Fund 924RBC Asia Pacific ex-Japan Equity Fund 930RBC Japanese Equity Fund 938RBC Emerging Markets Multi-Strategy Equity Fund 946RBC Emerging Markets Dividend Fund 952RBC Emerging Markets Equity Fund 960RBC Emerging Markets Small-Cap Equity Fund 969

GLOBAL EQUITY FUNDSRBC Global Dividend Growth Fund 977RBC Global Dividend Growth Currency Neutral Fund 985RBC Global Equity Fund 994RBC Global Equity Focus Fund 1003RBC QUBE Global Equity Fund 1011

TABLE OF CONTENTS

GLOBAL EQUITY FUNDS (cont.)RBC QUBE Low Volatility Global Equity Fund 1018RBC Vision Global Equity Fund formerly, RBC Jantzi Global Equity Fund 1028RBC Vision Fossil Fuel Free Global Equity Fund 1035RBC OShaughnessy Global Equity Fund 1041RBC QUBE All Country World Equity Fund 1050RBC QUBE Low Volatility All Country World Equity Fund 1057RBC Global Energy Fund 1064RBC Global Precious Metals Fund 1072RBC Global Resources Fund 1080RBC Global Technology Fund 1089

RBC PRIVATE POOLS

FIXED INCOMERBC Private Short-Term Income Pool 1097RBC Private Canadian Corporate Bond Pool 1105

BALANCEDRBC Private Income Pool 1116

CANADIAN EQUITYRBC Private Canadian Dividend Pool 1123RBC Private Canadian Growth and Income Equity Pool 1130RBC Private Canadian Equity Pool 1136RBC Private Canadian Growth Equity Pool 1143RBC Private Canadian Mid-Cap Equity Pool 1149

U.S. EQUITYRBC Private U.S. Large-Cap Value Equity Pool 1156RBC Private U.S. Large-Cap Value Equity Currency Neutral Pool 1162RBC Private U.S. Growth Equity Pool 1168RBC Private U.S. Large-Cap Core Equity Pool 1174RBC Private U.S. Large-Cap Core Equity Currency Neutral Pool 1181RBC Private U.S. Small-Cap Equity Pool 1187

INTERNATIONAL AND GLOBAL EQUITYRBC Private EAFE Equity Pool 1193RBC Private Overseas Equity Pool 1200RBC Private World Equity Pool 1206

GENERIC NOTES TO FINANCIAL STATEMENTS 1213

CONTACT US 1222

3

The accompanying financial statements have been prepared by RBC Global Asset Management Inc. (RBC GAM) as manager of the

RBC GAM Investment Funds (the Funds) and approved by the Board of Directors of RBC GAM. We are responsible for the information contained

within the financial statements.

We have maintained appropriate procedures and controls to ensure that timely and reliable financial information is produced. The financial

statements have been prepared in compliance with International Financial Reporting Standards (IFRS) (and they include certain amounts that are

based on estimates and judgments). The significant accounting policies, which we believe are appropriate for the Funds, are described in Note 3

to the financial statements.

PricewaterhouseCoopers LLP, Chartered Professional Accountants, Licensed Public Accountants, have performed an independent audit of the

financial statements in accordance with IFRS. Their report is set out on the next page.

Damon G. Williams, FSA, FCIA, CFA Heidi Johnston, CPA, CAChief Executive Officer Chief Financial OfficerRBC Global Asset Management Inc. RBC GAM Funds

March 8, 2018

MANAGEMENTS RESPONSIBILITY FOR FINANCIAL REPORTING

4

INDEPENDENT AUDITORS REPORT

To the Unitholders of:

RBC FUNDS & RBC PRIVATE POOLSRBC Canadian T-Bill FundRBC Canadian Money Market FundRBC Premium Money Market FundRBC $U.S. Money Market FundRBC Premium $U.S. Money Market FundRBC Canadian Short-Term Income FundRBC Monthly Income Bond FundRBC Canadian Bond Index Fund (formerly, RBC Advisor Canadian Bond Fund)RBC Canadian Government Bond Index FundRBC Bond FundRBC Vision Bond Fund (formerly, Phillips, Hager & North Community Values Bond Fund)RBC Global Bond FundRBC $U.S. Investment Grade Corporate Bond FundRBC Global Corporate Bond FundRBC High Yield Bond FundRBC $U.S. High Yield Bond FundRBC Global High Yield Bond FundRBC Strategic Income Bond FundRBC Emerging Markets Foreign Exchange FundRBC Emerging Markets Bond FundRBC Emerging Markets Bond Fund (CAD Hedged)BlueBay Global Monthly Income Bond FundBlueBay Global Sovereign Bond Fund (Canada)BlueBay Global Investment Grade Corporate Bond Fund (Canada)BlueBay European High Yield Bond Fund (Canada)BlueBay Emerging Markets Corporate Bond FundBlueBay Global Convertible Bond Fund (Canada)BlueBay $U.S. Global Convertible Bond Fund (Canada)RBC Managed Payout SolutionRBC Managed Payout Solution EnhancedRBC Managed Payout Solution Enhanced PlusRBC Monthly Income FundRBC U.S. Monthly Income Fund RBC Balanced FundRBC Global Balanced FundRBC Vision Balanced Fund (formerly, RBC Jantzi Balanced Fund)RBC Conservative Growth & Income FundRBC Balanced Growth & Income FundRBC Global Growth & Income FundRBC Retirement Income SolutionRBC Retirement 2020 PortfolioRBC Retirement 2025 PortfolioRBC Retirement 2030 PortfolioRBC Retirement 2035 PortfolioRBC Retirement 2040 PortfolioRBC Retirement 2045 PortfolioRBC Retirement 2050 PortfolioRBC Select Very Conservative PortfolioRBC Select Conservative PortfolioRBC Select Balanced Portfolio RBC Select Growth PortfolioRBC Select Aggressive Growth PortfolioRBC Select Choices Conservative PortfolioRBC Select Choices Balanced PortfolioRBC Select Choices Growth PortfolioRBC Select Choices Aggressive Growth PortfolioRBC Target 2020 Education FundRBC Target 2025 Education Fund

RBC Target 2030 Education FundRBC Target 2035 Education FundRBC Canadian Dividend FundRBC Canadian Equity FundRBC QUBE Canadian Equity FundRBC QUBE Low Volatility Canadian Equity FundRBC Trend Canadian Equity FundRBC Vision Canadian Equity Fund (formerly, RBC Jantzi Canadian Equity Fund)RBC Canadian Index FundRBC OShaughnessy Canadian Equity FundRBC OShaughnessy All-Canadian Equity FundRBC Canadian Equity Income FundRBC Canadian Small & Mid-Cap Resources FundRBC North American Value FundRBC North American Growth FundRBC U.S. Dividend FundRBC U.S. Dividend Currency Neutral FundRBC U.S. Equity Fund RBC U.S. Equity Currency Neutral FundRBC QUBE U.S. Equity FundRBC QUBE Low Volatility U.S. Equity FundRBC QUBE Low Volatility U.S. Equity Currency Neutral FundRBC U.S. Equity Value FundRBC U.S. Index FundRBC U.S. Index Currency Neutral FundRBC OShaughnessy U.S. Value FundRBC U.S. Mid-Cap Growth Equity FundRBC U.S. Mid-Cap Growth Equity Currency Neutral Fund RBC U.S. Mid-Cap Value Equity FundRBC U.S. Small-Cap Core Equity FundRBC U.S. Small-Cap Value Equity FundRBC OShaughnessy U.S. Growth FundRBC OShaughnessy U.S. Growth Fund IIRBC Life Science and Technology FundRBC International Dividend Growth FundRBC International Equity FundRBC International Equity Currency Neutral FundRBC International Index Currency Neutral FundRBC OShaughnessy International Equity FundRBC European Dividend FundRBC European Equity FundRBC European Mid-Cap Equity FundRBC Asian Equity FundRBC Asia Pacific ex-Japan Equity FundRBC Japanese Equity FundRBC Emerging Markets Multi-Strategy Equity FundRBC Emerging Markets Dividend FundRBC Emerging Markets Equity FundRBC Emerging Markets Small-Cap Equity FundRBC Global Dividend Growth FundRBC Global Dividend Growth Currency Neutral FundRBC Global Equity FundRBC Global Equity Focus FundRBC QUBE Global Equity FundRBC QUBE Low Volatility Global Equity FundRBC Vision Global Equity Fund (formerly, RBC Jantzi Global Equity Fund)RBC Vision Fossil Fuel Free Global Equity Fund RBC OShaughnessy Global Equity FundRBC QUBE All Country World Equity FundRBC QUBE Low Volatility All Country World Equity FundRBC Global Energy FundRBC Global Precious Metals Fund

RBC Global Resources FundRBC Global Technology FundRBC Private Short-Term Income PoolRBC Private Canadian Corporate Bond PoolRBC Private Income PoolRBC Private Canadian Dividend PoolRBC Private Canadian Growth and Income Equity PoolRBC Private Canadian Equity PoolRBC Private Canadian Growth Equity PoolRBC Private Canadian Mid-Cap Equity PoolRBC Private U.S. Large-Cap Value Equity Pool RBC Private U.S. Large-Cap Value Equity Currency Neutral PoolRBC Private U.S. Growth Equity PoolRBC Private U.S. Large-Cap Core Equity Pool RBC Private U.S. Large-Cap Core Equity Currency Neutral PoolRBC Private U.S. Small-Cap Equity PoolRBC Private EAFE Equity PoolRBC Private Overseas Equity PoolRBC Private World Equity Pool

PHILLIPS, HAGER & NORTH INVESTMENT FUNDSPhillips, Hager & North Canadian Money Market FundPhillips, Hager & North $U.S. Money Market FundPhillips, Hager & North Short Term Bond & Mortgage FundPhillips, Hager & North Bond FundPhillips, Hager & North Total Return Bond FundPhillips, Hager & North Inflation-Linked Bond FundPhillips, Hager & North High Yield Bond FundPhillips, Hager & North Long Inflation-linked Bond FundPhillips, Hager & North Monthly Income FundPhillips, Hager & North Balanced FundPhillips, Hager & North Dividend Income FundPhillips, Hager & North Canadian Equity FundPhillips, Hager & North Canadian Equity Value FundPhillips, Hager & North Canadian Equity Underlying FundPhillips, Hager & North Canadian Equity Underlying Fund IIPhillips, Hager & North Canadian Growth Fund Phillips, Hager & North Canadian Income FundPhillips, Hager & North Vintage FundPhillips, Hager & North U.S. Dividend Income FundPhillips, Hager & North U.S. Multi-Style All-Cap Equity FundPhillips, Hager & North U.S. Equity FundPhillips, Hager & North Currency-Hedged U.S. Equity FundPhillips, Hager & North U.S. Growth Fund Phillips, Hager & North Overseas Equity FundPhillips, Hager & North Currency-Hedged Overseas Equity FundPhillips, Hager & North Global Equity FundPhillips, Hager & North LifeTime 2015 Fund Phillips, Hager & North LifeTime 2020 FundPhillips, Hager & North LifeTime 2025 FundPhillips, Hager & North LifeTime 2030 FundPhillips, Hager & North LifeTime 2035 FundPhillips, Hager & North LifeTime 2040 FundPhillips, Hager & North LifeTime 2045 FundPhillips, Hager & North LifeTime 2050 Fund

(collectively referred to as the Funds)

5

INDEPENDENT AUDITORS REPORT

We have audited the accompanying financial statements of each of the Funds, which comprise the statements of financial position,

comprehensive income, cash flows and changes in net assets attributable to holders of redeemable units as at and for the periods indicated in

note 2, and the related notes, which comprise a summary of significant accounting policies and other explanatory information.

Managements responsibility for the financial statementsManagement is responsible for the preparation and fair presentation of the financial statements of each of the Funds in accordance with

International Financial Reporting Standards, and for such internal control as management determines is necessary to enable the preparation

of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors responsibilityOur responsibility is to express an opinion on the financial statements of each of the Funds based on our audits. We conducted our audits in

accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan

and perform the audits to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures

selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due

to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entitys preparation and fair presentation

of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an

opinion on the effectiveness of the entitys internal control. An audit also includes evaluating the appropriateness of accounting policies used and

the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained in each of our audits is sufficient and appropriate to provide a basis for our audit opinion.

OpinionIn our opinion, the financial statements of each of the Funds present fairly, in all material respects, the financial position, financial performance

and cash flows of each of the Funds as at and for the periods indicated in note 2, in accordance with International Financial Reporting Standards.

Chartered Professional Accountants, Licensed Public Accountants

Toronto, OntarioMarch 8, 2018

SCHEDULE OF INVESTMENT PORTFOLIO (in $000s)

2017 ANNUAL FINANCIAL STATEMENTS

December 31, 2017

The accompanying notes are an integral part of the financial statements.

6

RBC CANADIAN T-BILL FUND

Par Value Cost/ % of Net (000s) Security Fair Value Assets

FEDERAL OBLIGATIONS 6 100 Government of Canada Treasury Bills $ 6 115

6 115 1.9 PROVINCIAL OBLIGATIONS 6 200 Financement-Qubec 6 238 61 490 Province of Alberta 61 181 38 420 Province of British Columbia 38 311 36 930 Province of Manitoba 36 870 40 780 Province of New Brunswick 41 022 1 660 Province of Nova Scotia 1 656 72 530 Province of Ontario 72 156 36 360 Province of Quebec 36 215 25 000 Province of Saskatchewan 24 925

318 574 97.9 TOTAL INVESTMENTS 324 689 99.8 OTHER NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS 664 0.2 NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS $ 325 353 100.0

Investments, which are grouped by issuer, earn interest at rates ranging from 0.73% to 1.31% and mature between January 2, 2018 and May 30, 2018.

FINANCIAL STATEMENTS

The accompanying notes are an integral part of these financial statements.

7


Statements of Financial Position (in $000s except per unit amounts)

(see note 2 in the generic notes)December 31

2017December 31

2016

ASSETSInvestments at fair value $ 324 689 $ 361 655Cash 8 2Subscriptions receivable 536 324Dividends receivable, interest accrued and other assets 587 184TOTAL ASSETS 325 820 362 165LIABILITIESRedemptions payable 219 249Distributions payable 127 49Accounts payable and accrued expenses 121 136TOTAL LIABILITIES EXCLUDING NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS 467 434NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS (NAV) $ 325 353 $ 361 731

Investments at cost $ 324 689 $ 361 655

NAV SERIES A $ 270 209 $ 306 017 SERIES D $ 55 144 $ 55 714NAV PER UNIT SERIES A $ 10.00 $ 10.00 SERIES D $ 10.00 $ 10.00

Statements of Comprehensive Income (in $000s except per unit amounts)

For the periods ended December 31 (see note 2 in the generic notes) 2017 2016

INCOME (see note 3 in the generic notes)Interest for distribution purposes $ 2 714 $ 2 448Securities lending revenue (see note 7 in the generic notes) 7 14TOTAL INCOME (LOSS) 2 721 2 462EXPENSES (see notes Fund Specific Information)Management fees 1 054 1 175Administration fees 315 356Independent Review Committee costs 3 2GST/HST 130 145TOTAL EXPENSES 1 502 1 678INCREASE (DECREASE) IN NAV $ 1 219 $ 784INCREASE (DECREASE) IN NAV SERIES A $ 1 024 $ 672 SERIES D $ 195 $ 112INCREASE (DECREASE) IN NAV PER UNIT SERIES A $ 0.04 $ 0.02 SERIES D $ 0.04 $ 0.02



8


Statements of Cash Flow (in $000s)


CASH FLOWS FROM OPERATING ACTIVITIESIncrease (decrease) in NAV $ 1 219 $ 784 ADJUSTMENTS TO RECONCILE NET CASH PROVIDED BY (USED IN) OPERATIONSInterest for distribution purposes Non-cash distributions from underlying funds Net realized loss (gain) on investments Change in unrealized loss (gain) on investments (Increase) decrease in accrued receivables (403) 701 Increase (decrease) in accrued payables (15) (14)(Increase) decrease in margin accounts Cost of investments purchased (2 526 159) (2 301 042)Proceeds from sale and maturity of investments 2 563 125 2 337 850 NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 37 767 38 279 CASH FLOWS FROM FINANCING ACTIVITIESProceeds from issue of redeemable units 79 736 108 767 Cash paid on redemption of redeemable units (117 547) (147 037)Distributions paid to holders of redeemable units 50 (8)NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES $ (37 761) $ (38 278)Net increase (decrease) in cash for the period 6 1 Cash (bank overdraft), beginning of period 2 1 CASH (BANK OVERDRAFT), END OF PERIOD $ 8 $ 2

Interest received (paid) $ 2 311 $ 3 149 Dividends received, net of withholding taxes $ $



9


Statements of Changes in NAV (in $000s)

For the periods ended December 31 (see note 2 in the generic notes)

Series A Series D Total2017 2016 2017 2016 2017 2016

NAV AT BEGINNING OF PERIOD $ 306 017 $ 342 970 $ 55 714 $ 55 230 $ 361 731 $ 398 200INCREASE (DECREASE) IN NAV 1 024 672 195 112 1 219 784Proceeds from redeemable units issued 65 400 92 494 14 719 16 430 80 119 108 924Reinvestments of distributions to holders of redeemable units 989 651 193 110 1 182 761Redemption of redeemable units (102 205) (130 101) (15 483) (16 057) (117 688) (146 158)NET INCREASE (DECREASE) FROM REDEEMABLE UNIT TRANSACTIONS (35 816) (36 956) (571) 483 (36 387) (36 473)Distributions from net income (1 016) (669) (194) (111) (1 210) (780)Distributions from net gains Distributions from capital TOTAL DISTRIBUTIONS TO HOLDERS OF REDEEMABLE UNITS (1 016) (669) (194) (111) (1 210) (780)NET INCREASE (DECREASE) IN NAV (35 808) (36 953) (570) 484 (36 378) (36 469)NAV AT END OF PERIOD $ 270 209 $ 306 017 $ 55 144 $ 55 714 $ 325 353 $ 361 731

NOTES TO FINANCIAL STATEMENTS FUND SPECIFIC INFORMATION

Please see the generic notes at the back of the financial statements.

December 31, 2017

10


General information (see note 1 in the generic notes)

The investment objective of the Fund is to provide current

income and liquidity consistent with short-term money-market

interest rates while preserving the value of the investment.

Financial instrument risk and capital management (see note 5 in the generic notes)

Credit risk (%)

The table below summarizes the Funds credit risk exposure

grouped by credit ratings as at:

RatingDecember 31

2017December 31

2016

R-1 (H) 40.2 29.2R-1 (M) 59.8 64.2R-1 (L) 6.6Total 100.0 100.0

Concentration risk (%)

The table below summarizes the Funds investment portfolio

(after consideration of derivative products, if any) as at:

Investment mixDecember 31

2017December 31

2016

Provincial Obligations 97.9 99.0Federal Obligations 1.9 Term Deposits 1.0Cash/Other 0.2 Total 100.0 100.0

Interest rate risk (%)

The table below summarizes the Funds exposure to interest

rate risk by remaining term to maturity as at:

Term to maturityDecember 31

2017December 31

2016

0 1 month 20.3 39.61 3 months 60.5 32.93 6 months 19.2 23.46 12 months 4.1Total 100.0 100.0

Due to the short-term nature of the Funds investments, the

Fund has minimal sensitivity to changes in interest rates.

Fair value hierarchy ($000s except % amounts) (see note 3 in the generic notes)

The following is a summary of the inputs used as of

December 31, 2017 and 2016.

December 31, 2017 Level 1 Level 2 Level 3 Total

Equities Mutual fund units Fixed-income and debt securities Short-term investments 324 689 324 689Derivatives assets Derivatives liabilities Total financial instruments 324 689 324 689% of total portfolio 100.0 100.0



For the periods ended December 31, 2017 and 2016, there

were no transfers of financial instruments between Level 1,

Level 2 and Level 3.

Management fees and operating expenses (see note 8 in the generic notes)

Management fees and administration fees of each series

of the Fund are payable to RBC GAM and calculated at the

following annual percentages, before GST/HST, of the daily

NAV of each series of the Fund.

Management fees Operating expenses

Series A 0.75% 0.10%Series D 0.60% 0.05%

Taxes ($000s) (see note 6 in the generic notes)

The Fund had no capital or non-capital losses as at

December 31, 2017.



December 31, 2017

11

Redeemable units (000s)

There is no limitation on the number of units available for

issue. Units are purchased and redeemed at the NAV per unit.


Series AOpening units 30 601 34 297Issued number of units 6 540 9 249Reinvested number of units 99 65Redeemed number of units (10 220) (13 010)Ending number of units 27 020 30 601

Series D Opening units 5 571 5 523Issued number of units 1 472 1 643Reinvested number of units 19 11Redeemed number of units (1 548) (1 606)Ending number of units 5 514 5 571

Securities lending revenue ($000s except %) (see note 7 in the generic notes)

Fair value of securities on loan and collateral received as at:

December 31 2017

December 31 2016

Fair value of securities loaned 10 624 7 804Fair value of collateral received 10 836 7 960

The table below provides a reconciliation of the gross revenue

generated from the securities lending transactions of the Fund

to the securities lending revenue disclosed in the Statements of

Comprehensive Income.

December 31 2017

December 31 2016

$ % $ %

Gross revenue 10 100 21 100 RBC IS (paid) (3) (27) (7) (35)Tax withheld Fund revenue 7 73 14 65




December 31, 2017


12

RBC CANADIAN MONEY MARKET FUND


BANKERS ACCEPTANCES AND BANK OBLIGATIONS 20 520 Bank of Montreal $ 20 581 109 800 Bank of Nova Scotia 109 975 76 760 Canadian Imperial Bank of Commerce 76 423 73 310 HSBC Bank Canada 72 977 41 600 National Bank of Canada 41 550 130 860 Toronto-Dominion Bank 130 103

451 609 28.7 COMMERCIAL PAPER 70 740 Banner Trust 70 364 77 500 Bay Street Funding Trust - Class A 77 179 62 070 BNP Paribas Capital Trust 61 862 40 470 Canadian Master Trust - Series A 40 476 68 260 Clarity Trust 68 002 510 Enbridge Gas Distribution Inc. 509 73 150 Enbridge Pipelines Inc. 72 964 69 920 Fusion Trust 69 604 25 800 Honda Canada Finance Inc. 25 683 60 000 Inter Pipeline Ltd. 59 871 74 330 King Street Funding Trust 73 972 29 900 Merit Trust - Senior Notes 29 773 3 480 Nissan Canada Financial Services Inc. 3 474 61 875 Prime Trust - Senior Notes 61 748 19 440 Ridge Trust 19 364 69 210 SAFE Trust - Series 1996-1 68 976 67 960 SOUND Trust 67 651 69 120 SURE Trust 68 718 6 880 TMX Group Ltd. 6 864 68 100 Zeus Receivables Trust - Senior Notes 67 804

1 014 858 64.6 PROVINCIAL OBLIGATIONS 19 350 Province of Alberta 19 300 25 320 Province of Manitoba 25 380 32 400 Province of New Brunswick 32 320 2 400 Province of Nova Scotia 2 394 10 600 Province of Ontario 10 574 6 540 Province of Quebec 6 523 2 320 Province of Saskatchewan 2 313

98 804 6.3 TOTAL INVESTMENTS 1 565 271 99.6 OTHER NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS 6 698 0.4 NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS $ 1 571 969 100.0

Investments, which are grouped by issuer, earn interest at rates ranging from 0.96% to 1.62% and mature between January 2, 2018 and June 11, 2018.



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2017December 31

2016

ASSETSInvestments at fair value $ 1 565 271 $ 1 582 116Cash 13 29Subscriptions receivable 8 257 2 926Dividends receivable, interest accrued and other assets 2 966 3 576TOTAL ASSETS 1 576 507 1 588 647LIABILITIESRedemptions payable 3 234 2 734Distributions payable 656 363Accounts payable and accrued expenses 648 728TOTAL LIABILITIES EXCLUDING NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS 4 538 3 825NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS (NAV) $ 1 571 969 $ 1 584 822

Investments at cost $ 1 565 271 $ 1 582 116

NAV SERIES A $ 1 048 238 $ 1 224 869 ADVISOR SERIES $ 13 676 $ 14 759 SERIES D $ 161 812 $ 164 136 SERIES F $ 24 381 $ 12 499 SERIES O $ 323 862 $ 168 559NAV PER UNIT SERIES A $ 10.00 $ 10.00 ADVISOR SERIES $ 10.00 $ 10.00 SERIES D $ 10.00 $ 10.00 SERIES F $ 10.00 $ 10.00 SERIES O $ 10.00 $ 10.00



INCOME (see note 3 in the generic notes)Interest for distribution purposes $ 17 359 $ 15 355TOTAL INCOME (LOSS) 17 359 15 355EXPENSES (see notes Fund Specific Information)Management fees 6 076 6 773Administration fees 1 284 1 420Independent Review Committee costs 3 2GST/HST 739 816TOTAL EXPENSES 8 102 9 011INCREASE (DECREASE) IN NAV $ 9 257 $ 6 344INCREASE (DECREASE) IN NAV SERIES A $ 5 376 $ 4 102 ADVISOR SERIES $ 66 $ 61 SERIES D $ 786 $ 541 SERIES F $ 120 $ 40 SERIES O $ 2 909 $ 1 600INCREASE (DECREASE) IN NAV PER UNIT SERIES A $ 0.05 $ 0.03 ADVISOR SERIES $ 0.05 $ 0.03 SERIES D $ 0.05 $ 0.03 SERIES F $ 0.05 $ 0.04 SERIES O $ 0.11 $ 0.09



14




CASH FLOWS FROM OPERATING ACTIVITIESIncrease (decrease) in NAV $ 9 257 $ 6 344 ADJUSTMENTS TO RECONCILE NET CASH PROVIDED BY (USED IN) OPERATIONSInterest for distribution purposes Non-cash distributions from underlying funds Net realized loss (gain) on investments Change in unrealized loss (gain) on investments (Increase) decrease in accrued receivables 610 (1 592)Increase (decrease) in accrued payables (80) (74)(Increase) decrease in margin accounts Cost of investments purchased (7 575 840) (7 460 673)Proceeds from sale and maturity of investments 7 592 685 7 610 554 NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 26 632 154 559 CASH FLOWS FROM FINANCING ACTIVITIESProceeds from issue of redeemable units 809 051 757 983 Cash paid on redemption of redeemable units (835 358) (912 218)Distributions paid to holders of redeemable units (341) (358)NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES $ (26 648) $ (154 593)Net increase (decrease) in cash for the period (16) (34)Cash (bank overdraft), beginning of period 29 63 CASH (BANK OVERDRAFT), END OF PERIOD $ 13 $ 29




15




Series A Advisor Series Series D Series F2017 2016 2017 2016 2017 2016 2017 2016

NAV AT BEGINNING OF PERIOD $ 1 224 869 $ 1 352 347 $ 14 759 $ 13 191 $ 164 136 $ 173 834 $ 12 499 $ 8 769INCREASE (DECREASE) IN NAV 5 376 4 102 66 61 786 541 120 40Proceeds from redeemable units issued 396 393 514 008 16 866 40 214 76 131 77 425 50 345 20 629Reinvestments of distributions to holders of redeemable units 5 227 3 993 63 57 773 534 69 23Redemption of redeemable units (578 288) (645 497) (18 012) (38 704) (79 234) (87 660) (38 533) (16 922)NET INCREASE (DECREASE) FROM REDEEMABLE UNIT TRANSACTIONS (176 668) (127 496) (1 083) 1 567 (2 330) (9 701) 11 881 3 730Distributions from net income (5 339) (4 084) (66) (60) (780) (538) (119) (40)Distributions from net gains Distributions from capital TOTAL DISTRIBUTIONS TO HOLDERS OF REDEEMABLE UNITS (5 339) (4 084) (66) (60) (780) (538) (119) (40)NET INCREASE (DECREASE) IN NAV (176 631) (127 478) (1 083) 1 568 (2 324) (9 698) 11 882 3 730NAV AT END OF PERIOD $ 1 048 238 $ 1 224 869 $ 13 676 $ 14 759 $ 161 812 $ 164 136 $ 24 381 $ 12 499


Series O Total2017 2016 2017 2016

NAV AT BEGINNING OF PERIOD $ 168 559 $ 185 330 $ 1 584 822 $ 1 733 471INCREASE (DECREASE) IN NAV 2 909 1 600 9 257 6 344Proceeds from redeemable units issued 285 747 105 894 825 482 758 170Reinvestments of distributions to holders of redeemable units 2 432 1 260 8 564 5 867Redemption of redeemable units (132 891) (123 927) (846 958) (912 710)NET INCREASE (DECREASE) FROM REDEEMABLE UNIT TRANSACTIONS 155 288 (16 773) (12 912) (148 673)Distributions from net income (2 894) (1 598) (9 198) (6 320)Distributions from net gains Distributions from capital TOTAL DISTRIBUTIONS TO HOLDERS OF REDEEMABLE UNITS (2 894) (1 598) (9 198) (6 320)NET INCREASE (DECREASE) IN NAV 155 303 (16 771) (12 853) (148 649)NAV AT END OF PERIOD $ 323 862 $ 168 559 $ 1 571 969 $ 1 584 822



December 31, 2017

16




income and liquidity consistent with short-term money-market

interest rates while preserving the value of the investment.


Credit risk (%)



RatingDecember 31

2017December 31

2016

R-1 (H) 76.9 74.3R-1 (M) 13.9 18.3R-1 (L) 9.2 7.4Total 100.0 100.0





2017December 31

2016

Commercial Paper 64.6 59.0Bankers Acceptances and Bank Obligations 28.7 34.5Provincial Obligations 6.3 6.3Cash/Other 0.4 0.2Total 100.0 100.0





2017December 31

2016








Equities Mutual fund units Fixed-income and debt securities Short-term investments 1 565 271 1 565 271Derivatives assets Derivatives liabilities Total financial instruments 1 565 271 1 565 271% of total portfolio 100.0 100.0












Series A 0.75% 0.10%Advisor Series 0.75% 0.05%Series D 0.60% 0.05%Series F 0.50% 0.05%Series O n/a* 0.02%

* Series O unitholders pay a negotiated management fee directly to RBC GAM for investment-counselling services.



December 31, 2017.



December 31, 2017

17






Advisor SeriesOpening units 1 476 1 319Issued number of units 1 687 4 021Reinvested number of units 6 6Redeemed number of units (1 801) (3 870)Ending number of units 1 368 1 476

Series DOpening units 16 413 17 383Issued number of units 7 613 7 743Reinvested number of units 77 53Redeemed number of units (7 923) (8 766)Ending number of units 16 180 16 413

Series FOpening units 1 250 877Issued number of units 5 034 2 063Reinvested number of units 7 2Redeemed number of units (3 853) (1 692)Ending number of units 2 438 1 250

Series O Opening units 16 856 18 533Issued number of units 28 575 10 590Reinvested number of units 243 126Redeemed number of units (13 289) (12 393)Ending number of units 32 385 16 856



December 31 2017

December 31 2016

Fair value of securities loaned Fair value of collateral received






December 31 2017

December 31 2016

$ % $ %

Gross revenue 1 100 100 RBC IS (paid) (25) (35)Tax withheld Fund revenue 1 75 65

Investments by other related investment funds (%) (see note 8 in the generic notes)

The table below summarizes, as a percentage, the NAV of the

Fund owned by other related investment funds as at:

December 31 2017

December 31 2016

RBC Select Choices Balanced Portfolio 0.1 0.1RBC Select Choices Conservative Portfolio 0.1 0.1RBC Select Choices Growth Portfolio 0.1 0.1RBC Short Term Income Class 0.7 0.9RBC Target 2020 Education Fund 6.9 Total 7.9 1.2



December 31, 2017


18


BANKERS ACCEPTANCES AND BANK OBLIGATIONS 36 990 Bank of Montreal $ 37 019 90 760 Bank of Nova Scotia 90 800 96 210 Canadian Imperial Bank of Commerce 95 673 48 485 HSBC Bank Canada 48 319 21 400 National Bank of Canada 21 374 95 960 Toronto-Dominion Bank 95 669

388 854 31.2 COMMERCIAL PAPER 55 130 Banner Trust 54 942 59 670 Bay Street Funding Trust - Class A 59 428 32 940 BNP Paribas Capital Trust 32 829 10 130 Canadian Master Trust - Series A 10 090 59 970 Clarity Trust 59 651 13 210 Enbridge Gas Distribution Inc. 13 196 39 360 Enbridge Pipelines Inc. 39 269 55 160 Fusion Trust 54 916 25 000 Honda Canada Finance Inc. 24 966 55 700 Inter Pipeline Ltd. 55 596 59 890 King Street Funding Trust 59 635 41 370 Merit Trust - Senior Notes 41 137 51 290 Prime Trust - Senior Notes 51 148 10 420 Ridge Trust 10 379 58 850 SAFE Trust - Series 1996-1 58 643 35 060 SOUND Trust 34 907 52 400 SURE Trust 52 078 330 TMX Group Ltd. 329 56 900 Zeus Receivables Trust - Senior Notes 56 695

769 834 61.8 PROVINCIAL OBLIGATIONS 120 Province of Alberta 120 17 680 Province of Manitoba 17 742 11 940 Province of Nova Scotia 11 909 15 530 Province of Ontario 15 492 21 760 Province of Quebec 21 707 12 420 Province of Saskatchewan 12 385

79 355 6.4 TOTAL INVESTMENTS 1 238 043 99.4 OTHER NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS 7 029 0.6 NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS $ 1 245 072 100.0


RBC PREMIUM MONEY MARKET FUND



19




2017December 31

2016

ASSETSInvestments at fair value $ 1 238 043 $ 1 380 899Cash 53 28Subscriptions receivable 7 144 3 708Dividends receivable, interest accrued and other assets 2 242 2 877TOTAL ASSETS 1 247 482 1 387 512LIABILITIESRedemptions payable 1 368 2 133Distributions payable 676 463Accounts payable and accrued expenses 366 413TOTAL LIABILITIES EXCLUDING NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS 2 410 3 009NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS (NAV) $ 1 245 072 $ 1 384 503

Investments at cost $ 1 238 043 $ 1 380 899

NAV SERIES A $ 1 215 455 $ 1 372 269 SERIES F $ 29 617 $ 12 234 SERIES I $ $ NAV PER UNIT SERIES A $ 10.00 $ 10.00 SERIES F $ 10.00 $ 10.00 SERIES I $ $



INCOME (see note 3 in the generic notes)Interest for distribution purposes $ 14 064 $ 13 043Securities lending revenue (see note 7 in the generic notes) 2 TOTAL INCOME (LOSS) 14 066 13 043EXPENSES (see notes Fund Specific Information)Management fees 3 909 4 259Administration fees 260 286Independent Review Committee costs 3 2GST/HST 410 446TOTAL EXPENSES 4 582 4 993INCREASE (DECREASE) IN NAV $ 9 484 $ 8 050INCREASE (DECREASE) IN NAV SERIES A $ 9 325 $ 7 968 SERIES F $ 159 $ 77 SERIES I $ $ 5INCREASE (DECREASE) IN NAV PER UNIT SERIES A $ 0.07 $ 0.06 SERIES F $ 0.09 $ 0.07 SERIES I $ $ 0.04



20




CASH FLOWS FROM OPERATING ACTIVITIESIncrease (decrease) in NAV $ 9 484 $ 8 050 ADJUSTMENTS TO RECONCILE NET CASH PROVIDED BY (USED IN) OPERATIONSInterest for distribution purposes Non-cash distributions from underlying funds Net realized loss (gain) on investments Change in unrealized loss (gain) on investments (Increase) decrease in accrued receivables 635 (706)Increase (decrease) in accrued payables (47) (38)(Increase) decrease in margin accounts Cost of investments purchased (6 176 181) (6 592 332)Proceeds from sale and maturity of investments 6 319 037 6 720 117 NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 152 928 135 091 CASH FLOWS FROM FINANCING ACTIVITIESProceeds from issue of redeemable units 776 691 725 781 Cash paid on redemption of redeemable units (929 058) (860 301)Distributions paid to holders of redeemable units (536) (555)NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES $ (152 903) $ (135 075)Net increase (decrease) in cash for the period 25 16 Cash (bank overdraft), beginning of period 28 12 CASH (BANK OVERDRAFT), END OF PERIOD $ 53 $ 28




21




Series A Series F Series I Total2017 2016 2017 2016 2017 2016 2017 2016

NAV AT BEGINNING OF PERIOD $ 1 372 269 $ 1 497 158 $ 12 234 $ 9 627 $ $ 6 320 $ 1 384 503 $ 1 513 105INCREASE (DECREASE) IN NAV 9 325 7 968 159 77 5 9 484 8 050Proceeds from redeemable units issued 725 965 704 122 61 932 18 974 787 897 723 096Reinvestments of distributions to holders of redeemable units 8 590 7 347 95 70 5 8 685 7 422Redemption of redeemable units (891 417) (836 382) (44 646) (16 437) (6 325) (936 063) (859 144)NET INCREASE (DECREASE) FROM REDEEMABLE UNIT TRANSACTIONS (156 862) (124 913) 17 381 2 607 (6 320) (139 481) (128 626)Distributions from net income (9 277) (7 944) (157) (77) (5) (9 434) (8 026)Distributions from net gains Distributions from capital TOTAL DISTRIBUTIONS TO HOLDERS OF REDEEMABLE UNITS (9 277) (7 944) (157) (77) (5) (9 434) (8 026)NET INCREASE (DECREASE) IN NAV (156 814) (124 889) 17 383 2 607 (6 320) (139 431) (128 602)NAV AT END OF PERIOD $ 1 215 455 $ 1 372 269 $ 29 617 $ 12 234 $ $ $ 1 245 072 $ 1 384 503



December 31, 2017

22




income and liquidity consistent with short-term money market

rates for investors who have at least $100,000 to invest.


Credit risk (%)



RatingDecember 31

2017December 31

2016

R-1 (H) 78.3 71.8R-1 (M) 13.0 20.0R-1 (L) 8.7 8.2Total 100.0 100.0





2017December 31

2016

Commercial Paper 61.8 60.6Bankers Acceptances and Bank Obligations 31.2 32.9Provincial Obligations 6.4 6.3Cash/Other 0.6 0.2Total 100.0 100.0





2017December 31

2016




















Series A 0.30% 0.02%Series F 0.20% 0.02%



December 31, 2017.



December 31, 2017

23










December 31 2017

December 31 2016






December 31 2017

December 31 2016

$ % $ %

Gross revenue 3 100 100 RBC IS (paid) (1) (25) (35)Tax withheld Fund revenue 2 75 65

SCHEDULE OF INVESTMENT PORTFOLIO (in USD000s)


December 31, 2017


24

RBC $U.S. MONEY MARKET FUND


BANKERS ACCEPTANCES AND BANK OBLIGATIONS 450 Bank of Montreal $ 448 7 870 Bank of Nova Scotia 7 862 8 760 Canadian Imperial Bank of Commerce 8 723 13 450 National Bank of Canada 13 419 4 870 Toronto-Dominion Bank 4 872

35 324 14.7 COMMERCIAL PAPER 20 330 Banner Trust 20 179 5 000 Bay Street Funding Trust - Class A 4 990 3 900 Canadian Master Trust - Series A 3 881 12 320 Clarity Trust 12 251 9 600 Enbridge Pipelines Inc. 9 586 8 900 Farm Credit Canada 8 890 9 320 Fusion Trust 9 254 5 000 King Street Funding Trust 4 990 15 370 Merit Trust - Senior Notes 15 284 2 800 OMERS Realty Corp. 2 796 19 030 Prime Trust - Senior Notes 18 935 10 130 Ridge Trust 10 065 1 730 SAFE Trust - Series 1996-1 1 726 12 610 SOUND Trust 12 516 5 200 SURE Trust 5 188 7 410 TMX Group Ltd. 7 401 18 450 Zeus Receivables Trust - Senior Notes 18 349

166 281 69.3 PROVINCIAL OBLIGATIONS 24 370 Province of Alberta 24 287 12 270 Province of Ontario 12 233 910 Province of Quebec 907

37 427 15.6 TOTAL INVESTMENTS 239 032 99.6 OTHER NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS 954 0.4 NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS $ 239 986 100.0




25

RBC $U.S. MONEY MARKET FUND(IN U.S. DOLLARS)



2017December 31

2016

ASSETSInvestments at fair value $ 239 032 $ 135 712Cash 4 Subscriptions receivable 1 046 1 496Dividends receivable, interest accrued and other assets 530 208TOTAL ASSETS 240 612 137 416LIABILITIESBank overdraft 1Redemptions payable 464 133Distributions payable 124 44Accounts payable and accrued expenses 38 33TOTAL LIABILITIES EXCLUDING NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS 626 211NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS (NAV) $ 239 986 $ 137 205


NAV SERIES A $ 95 886 $ 93 352 SERIES D $ 42 903 $ 25 494 SERIES O $ 101 197 $ 18 359NAV PER UNIT SERIES A $ 10.00 $ 10.00 SERIES D $ 10.00 $ 10.00 SERIES O $ 10.00 $ 10.00



INCOME (see note 3 in the generic notes)Interest for distribution purposes $ 2 474 $ 1 066TOTAL INCOME (LOSS) 2 474 1 066EXPENSES (see notes Fund Specific Information)Management fees 250 211Administration fees 121 112Independent Review Committee costs 2 2GST/HST 39 34TOTAL EXPENSES 412 359INCREASE (DECREASE) IN NAV $ 2 062 $ 707INCREASE (DECREASE) IN NAV SERIES A $ 905 $ 494 SERIES D $ 364 $ 125 SERIES O $ 793 $ 88INCREASE (DECREASE) IN NAV PER UNIT SERIES A $ 0.10 $ 0.05 SERIES D $ 0.11 $ 0.06 SERIES O $ 0.14 $ 0.08



26




CASH FLOWS FROM OPERATING ACTIVITIESIncrease (decrease) in NAV $ 2 062 $ 707 ADJUSTMENTS TO RECONCILE NET CASH PROVIDED BY (USED IN) OPERATIONSInterest for distribution purposes Non-cash distributions from underlying funds Net realized loss (gain) on investments Change in unrealized loss (gain) on investments (Increase) decrease in accrued receivables (322) (32)Increase (decrease) in accrued payables 5 14 (Increase) decrease in margin accounts Cost of investments purchased (1 101 755) (588 158)Proceeds from sale and maturity of investments 998 435 586 888 NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (101 575) (581)CASH FLOWS FROM FINANCING ACTIVITIESProceeds from issue of redeemable units 290 268 98 067 Cash paid on redemption of redeemable units (188 227) (97 444)Distributions paid to holders of redeemable units (461) (44)NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES $ 101 580 $ 579 Net increase (decrease) in cash for the period 5 (2)Cash (bank overdraft), beginning of period (1) 1 CASH (BANK OVERDRAFT), END OF PERIOD $ 4 $ (1)




27




Series A Series D Series O Total2017 2016 2017 2016 2017 2016 2017 2016

NAV AT BEGINNING OF PERIOD $ 93 352 $ 106 553 $ 25 494 $ 19 855 $ 18 359 $ 8 092 $ 137 205 $ 134 500INCREASE (DECREASE) IN NAV 905 494 364 125 793 88 2 062 707Proceeds from redeemable units issued 80 740 42 744 42 627 21 911 167 598 34 825 290 965 99 480Reinvestments of distributions to holders of redeemable units 857 476 358 123 289 37 1 504 636Redemption of redeemable units (79 068) (56 423) (25 580) (16 396) (85 057) (24 595) (189 705) (97 414)NET INCREASE (DECREASE) FROM REDEEMABLE UNIT TRANSACTIONS 2 529 (13 203) 17 405 5 638 82 830 10 267 102 764 2 702Distributions from net income (900) (492) (360) (124) (785) (88) (2 045) (704)Distributions from net gains Distributions from capital TOTAL DISTRIBUTIONS TO HOLDERS OF REDEEMABLE UNITS (900) (492) (360) (124) (785) (88) (2 045) (704)NET INCREASE (DECREASE) IN NAV 2 534 (13 201) 17 409 5 639 82 838 10 267 102 781 2 705NAV AT END OF PERIOD $ 95 886 $ 93 352 $ 42 903 $ 25 494 $ 101 197 $ 18 359 $ 239 986 $ 137 205



December 31, 2017

28



The investment objective of the Fund is to provide U.S. dollar

current income and liquidity consistent with short-term

U.S. money-market rates.


Credit risk (%)



RatingDecember 31

2017December 31

2016

R-1 (H) 81.8 88.0R-1 (M) 11.1 5.4R-1 (L) 7.1 6.6Total 100.0 100.0





2017December 31

2016

Commercial Paper 69.3 73.5Provincial Obligations 15.6 15.2Bankers Acceptances and Bank Obligations 14.7 10.2Cash/Other 0.4 1.1Total 100.0 100.0





2017December 31

2016

0 1 month 45.0 34.31 3 months 42.0 52.63 6 months 11.7 13.16 12 months 1.3 Total 100.0 100.0



Fair value hierarchy (USD000s except % amounts) (see note 3 in the generic notes)
















Series A 0.85% 0.10%Series D 0.60% 0.05%Series O n/a* 0.02%

* Series O unitholders pay a negotiated management fee directly to RBC GAM for investment-counselling services.



December 31, 2017

29

Taxes (CAD000s) (see note 6 in the generic notes)

The Fund prepares its financial statements in U.S. dollars

but is taxable on its income and net realized capital gains

(including gains from foreign exchange movements)

calculated on a Canadian dollar basis.

The non-capital and capital losses as at December 31, 2017

for the Fund were approximately:

Capital losses 197 680Non-capital losses






Series DOpening units 2 549 1 985Issued number of units 4 263 2 192Reinvested number of units 36 12Redeemed number of units (2 558) (1 640)Ending number of units 4 290 2 549

Series O Opening units 1 836 809Issued number of units 16 760 3 483Reinvested number of units 29 4Redeemed number of units (8 506) (2 460)Ending number of units 10 119 1 836

Investments by other related investment funds (%) (see note 8 in the generic notes)

The table below summarizes, as a percentage, the NAV of the

Fund owned by other related investment funds as at:

December 31 2017

December 31 2016

RBC $U.S. Short Term Income Class 0.2 0.1


SCHEDULE OF INVESTMENT PORTFOLIO (in USD000s)


December 31, 2017


30

RBC PREMIUM $U.S. MONEY MARKET FUND


BANKERS ACCEPTANCES AND BANK OBLIGATIONS 6 500 Bank of Nova Scotia $ 6 500 34 540 Canadian Imperial Bank of Commerce 34 352 9 640 National Bank of Canada 9 616 8 620 Toronto-Dominion Bank 8 636

59 104 11.5 COMMERCIAL PAPER 49 330 Banner Trust 49 070 5 000 Bay Street Funding Trust - Class A 4 990 24 050 Caisse Centrale Desjardins 23 951 7 190 Canadian Master Trust - Series A 7 144 35 950 Clarity Trust 35 681 20 400 Enbridge Pipelines Inc. 20 367 16 070 Farm Credit Canada 16 052 11 450 Fusion Trust 11 393 5 000 King Street Funding Trust 4 990 39 315 Merit Trust - Senior Notes 39 073 7 850 OMERS Realty Corp. 7 843 42 620 Prime Trust - Senior Notes 42 417 10 430 Ridge Trust 10 360 21 190 SAFE Trust - Series 1996-1 21 056 20 800 SOUND Trust 20 710 19 790 SURE Trust 19 684 4 790 TMX Group Ltd. 4 783 32 720 Zeus Receivables Trust - Senior Notes 32 538

372 102 72.6 PROVINCIAL OBLIGATIONS 54 105 Province of Alberta 53 952 13 940 Province of Ontario 13 898 14 030 Province of Quebec 13 988

81 838 16.0 TOTAL INVESTMENTS 513 044 100.1 OTHER NET ASSETS (LIABILITIES) ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS (742) (0.1)NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS $ 512 302 100.0




31

RBC PREMIUM $U.S. MONEY MARKET FUND(IN U.S. DOLLARS)



2017December 31

2016

ASSETSInvestments at fair value $ 513 044 $ 336 775Cash 15 26Subscriptions receivable 855 2 527Dividends receivable, interest accrued and other assets 1 107 412TOTAL ASSETS 515 021 339 740LIABILITIESRedemptions payable 2 362 331Distributions payable 252 123Accounts payable and accrued expenses 105 66TOTAL LIABILITIES EXCLUDING NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS 2 719 520NET ASSETS ATTRIBUTABLE TO HOLDERS OF REDEEMABLE UNITS (NAV) $ 512 302 $ 339 220


NAV SERIES A $ 446 226 $ 324 021 SERIES F $ 66 076 $ 15 199 SERIES I $ $ NAV PER UNIT SERIES A $ 10.02 $ 10.02 SERIES F $ 10.02 $ 10.02 SERIES I $ $



INCOME (see note 3 in the generic notes)Interest for distribution purposes $ 5 805 $ 2 736TOTAL INCOME (LOSS) 5 805 2 736EXPENSES (see notes Fund Specific Information)Management fees 853 591Administration fees 84 66Independent Review Committee costs 2 2GST/HST 100 69TOTAL EXPENSES 1 039 728INCREASE (DECREASE) IN NAV $ 4 766 $ 2 008INCREASE (DECREASE) IN NAV SERIES A $ 4 372 $ 1 916 SERIES F $ 394 $ 89 SERIES I $ $ 3INCREASE (DECREASE) IN NAV PER UNIT SERIES A $ 0.11 $ 0.06 SERIES F $ 0.11 $ 0.09 SERIES I $ $ 0.03



32




CASH FLOWS FROM OPERATING ACTIVITIESIncrease (decrease) in NAV $ 4 766 $ 2 008 ADJUSTMENTS TO RECONCILE NET CASH PROVIDED BY (USED IN) OPERATIONSInterest for distribution purposes Non-cash distributions from underlying funds Net realized loss (gain) on investments Change in unrealized loss (gain) on investments (Increase) decrease in accrued receivables (695) (185)Increase (decrease) in accrued payables 39 36 (Increase) decrease in margin accounts Cost of investments purchased (2 577 771) (1 583 011)Proceeds from sale and maturity of investments 2 401 502 1 534 227 NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (172 159) (46 925)CASH FLOWS FROM FINANCING ACTIVITIESProceeds from issue of redeemable units 504 339 246 562 Cash paid on redemption of redeemable units (331 902) (199 542)Distributions paid to holders of redeemable units (289) (73)NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES $ 172 148 $ 46 947 Net increase (decrease) in cash for the period (11) 22 Cash (bank overdraft), beginning of period 26 4 CASH (BANK OVERDRAFT), END OF PERIOD $ 15 $ 26




33




Series A Series F Series I Total2017 2016 2017 2016 2017 2016 2017 2016

NAV AT BEGINNING OF PERIOD $ 324 021 $ 276 402 $ 15 199 $ 9 661 $ $ 1 023 $ 339 220 $ 287 086INCREASE (DECREASE) IN NAV 4 372 1 916 394 89 3 4 766 2 008Proceeds from redeemable units issued 393 293 225 666 112 249 22 334 1 000 505 542 249 000Reinvestments of distributions to holders of redeemable units 4 056 3 081 258 122 3 4 314 3 206Redemption of redeemable units (275 175) (179 822) (61 633) (16 876) (2 026) (336 808) (198 724)NET INCREASE (DECREASE) FROM REDEEMABLE UNIT TRANSACTIONS 122 174 48 925 50 874 5 580 (1 023) 173 048 53 482Distributions from net income (4 341) (1 928) (391) (70) (3) (4 732) (2 001)Distributions from net gains Distributions from capital (1 294) (61) (1 355)TOTAL DISTRIBUTIONS TO HOLDERS OF REDEEMABLE UNITS (4 341) (3 222) (391) (131) (3) (4 732) (3 356)NET INCREASE (DECREASE) IN NAV 122 205 47 619 50 877 5 538 (1 023) 173 082 52 134NAV AT END OF PERIOD $ 446 226 $ 324 021 $ 66 076 $ 15 199 $ $ $ 512 302 $ 339 220



December 31, 2017

34




income and liquidity consistent with short-term money market

rates for investors who have at least US$100,000 to invest.


Credit risk (%)



RatingDecember 31

2017December 31

2016

R-1 (H) 87.8 72.1R-1 (M) 7.3 16.5R-1 (L) 4.9 11.4Total 100.0 100.0





2017December 31

2016

Commercial Paper 72.6 74.0Provincial Obligations 16.0 13.2Bankers Acceptances and Bank Obligations 11.5 12.1Cash/Other (0.1) 0.7Total 100.0 100.0





2017December 31

2016

0 1 month 44.5 37.01 3 months 40.2 47.93 6 months 13.9 15.16 12 months 1.4 Total 100.0 100.0



Fair value hierarchy (USD000s except % amounts) (see note 3 in the generic notes)
















Series A 0.35% 0.02%Series F 0.25% 0.02%

Taxes (CAD000s) (see note 6 in the generic notes)

The Fund prepares its financial statements in U.S. dollars

but is taxable on its income and net realized capital gains

(including gains from foreign exchange movements)

calculated on a Canadian dollar basis.

The non-capital and capital losses as at December 31, 2017

for the Fund were approximately:

Capital losses 24 625Non-capital losses



December 31, 2017

35








Securities lending revenue (USD000s except %) (see note 7 in the generic notes)


December 31 2017

December 31 2016






December 31 2017

December 31 2016

$ % $ %

Gross revenue 100 RBC IS (paid) (25) Tax withheld Fund revenue 75



December 31, 2017


36

RBC CANADIAN SHORT-TERM INCOME FUND

Par Value Coupon Fair % of Net (000s) Security Rate % Maturity Cost Value Assets

BONDSCANADIAN BONDSCORPORATE 6 000 407 International Inc. 2.470 08-Sep-2022 $ 5 999 $ 5 964 3 700 Alimentation Couche-Tard Inc. 3.319 01-Nov-2019 3 858 3 769 15 400 AltaGas Ltd. 4.600 15-Jan-2018 16 726 15 412 3 500 AltaGas Ltd. 4.550 17-Jan-2019 3 774 3 584 3 000 AltaGas Ltd. 3.720 28-Sep-2021 3 113 3 096 1 900 AltaLink LP 5.243 29-May-2018 2 122 1 928 42 700 Bank of Montreal 2.430 04-Mar-2019 42 759 42 938 19 200 Bank of Montreal 2.840 04-Jun-2020 19 592 19 474 25 000 Bank of Montreal 2.100 06-Oct-2020 25 042 24 880 43 250 Bank of Montreal 1.880 31-Mar-2021 43 262 42 600 25 550 Bank of Montreal 3.400 23-Apr-2021 26 995 26 373 31 000 Bank of Montreal 1.610 28-Oct-2021 30 998 30 083 56 400 Bank of Montreal 2.270 11-Jul-2022 56 395 55 820 19 000 Bank of Nova Scotia 2.462 14-Mar-2019 19 067 19 114 29 000 Bank of Nova Scotia 2.400 28-Oct-2019 28 993 29 151 35 100 Bank of Nova Scotia 2.270 13-Jan-2020 36 028 35 169 33 650 Bank of Nova Scotia 2.130 15-Jun-2020 33 723 33 557 9 950 Bank of Nova Scotia 2.090 09-Sep-2020 10 045 9 900 5 000 Bank of Nova Scotia 3.270 11-Jan-2021 5 338 5 134 19 000 Bank of Nova Scotia 2.873 04-Jun-2021 19 742 19 291 39 100 Bank of Nova Scotia 1.900 02-Dec-2021 38 967 38 301 23 900 Bank of Nova Scotia 1.830 27-Apr-2022 23 429 23 235 13 400 Bank of Nova Scotia 2.360 08-Nov-2022 13 398 13 273 1 000 bcIMC Realty Corp. 2.790 02-Aug-2018 1 023 1 007 4 000 bcIMC Realty Corp. 2.960 07-Mar-2019 4 139 4 048 6 000 bcIMC Realty Corp. 2.100 03-Jun-2021 5 989 5 942 27 150 Bell Canada 3.350 18-Jun-2019 28 357 27 619 13 100 Bell Canada 3.250 17-Jun-2020 13 540 13 380 30 000 Bell Canada 2.000 01-Oct-2021 29 945 29 378 48 500 Bell Canada 3.000 03-Oct-2022 49 841 49 087 2 500 BMW Canada Inc. 1.830 15-Jun-2021 2 505 2 450 5 150 Bruce Power LP 2.844 23-Jun-2021 5 150 5 188 19 000 Caisse Centrale Desjardins 2.443 17-Jul-2019 18 997 19 107 8 500 Caisse Centrale Desjardins 2.091 17-Jan-2022 8 500 8 376 23 700 Canadian Credit Card Trust II 1.829 24-Mar-2020 23 708 23 470 27 950 Canadian Imperial Bank of Commerce 2.350 24-Jun-2019 28 307 28 074 7 400 Canadian Imperial Bank of Commerce 1.660 20-Jan-2020 7 399 7 324 58 600 Canadian Imperial Bank of Commerce 1.850 14-Jul-2020 58 537 58 030 17 500 Canadian Imperial Bank of Commerce 1.900 26-Apr-2021 17 509 17 244 14 200 Canadian Imperial Bank of Commerce 1.640 12-Jul-2021 14 212 13 840 1 300 Canadian Imperial Bank of Commerce 2.040 21-Mar-2022 1 300 1 277 16 000 Canadian Imperial Bank of Commerce 2.300 11-Jul-2022 16 017 15 857 10 000 Canadian Imperial Bank of Commerce 2.470 05-Dec-2022 9 999 9 960 5 000 Canadian Natural Resources Ltd. 2.600 03-Dec-2019 4 991 5 022 10 000 Canadian Real Estate Investment Trust 3.676 24-Jul-2018 10 047 10 091 10 000 Canadian Real Estate Investment Trust 2.564 30-Nov-2019 10 010 9 977 5 100 Canadian Western Bank 2.531 22-Mar-2018 5 120 5 110 13 000 Canadian Western Bank 3.077 14-Jan-2019 13 125 13 136 4 600 Canadian Western Bank 2.377 23-Jan-2020 4 600 4 589 9 000 Canadian Western Bank 2.751 29-Jun-2020 9 000 9 032

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CORPORATE (cont.) 5 500 Canadian Western Bank 2.881 01-Mar-2021 $ 5 500 $ 5 525 5 400 Canadian Western Bank 2.788 13-Sep-2021 5 400 5 396 5 000 Canadian Western Bank 2.924 15-Dec-2022 5 000 4 978 14 800 Cards II Trust 2.155 15-Oct-2020 14 895 14 739 10 000 Choice Properties LP 3.000 20-Sep-2019 9 981 10 096 3 500 Choice Properties LP 3.600 20-Sep-2021 3 712 3 594 9 000 Choice Properties Real Estate Investment Trust 2.297 14-Sep-2020 9 035 8 950 7 900 Crombie Real Estate Investment Trust 3.986 31-Oct-2018 8 001 7 984 4 200 Daimler Canada Finance Inc. 1.780 19-Aug-2019 4 199 4 172 14 000 Daimler Canada Finance Inc. 1.570 25-May-2020 14 000 13 749 26 500 Daimler Canada Finance Inc. 1.910 08-Jul-2021 26 512 25 976 1 800 Daimler Canada Finance Inc. 2.570 22-Nov-2022 1 800 1 790 9 400 Enbridge Inc. 4.770 02-Sep-2019 10 057 9 770 30 000 Enbridge Inc. 3.190 05-Dec-2022 30 694 30 316 3 000 Enbridge Income Fund 4.100 22-Feb-2019 3 221 3 061 20 000 Federation des Caisses Desjardins du Quebec 2.394 25-Aug-2022 20 000 19 855 750 Finning International Inc. 2.840 29-Sep-2021 750 752 11 000 First Capital Realty Inc. 4.950 30-Nov-2018 11 978 11 291 18 000 Ford Credit Canada Ltd. 2.939 19-Feb-2019 18 034 18 138 6 000 Ford Credit Canada Ltd. 3.140 14-Jun-2019 6 000 6 065 26 700 Ford Credit Canada Ltd. 2.923 16-Sep-2020 26 862 26 875 26 500 Ford Credit Canada Ltd. 2.580 10-May-2021 26 500 26 309 5 000 Ford Credit Canada Ltd. 2.710 23-Feb-2022 5 000 4 947 4 750 Ford Credit Canada Ltd. 2.766 22-Jun-2022 4 750 4 697 4 800 Fortified Trust 2.161 23-Oct-2020 4 800 4 781 4 000 Genesis Trust II 1.675 17-Sep-2018 4 000 3 998 22 500 Genesis Trust II 2.433 15-May-2019 22 526 22 617 11 000 Genesis Trust II 1.699 15-Apr-2020 11 000 10 866 1 000 Genworth MI Canada Inc. 5.680 15-Jun-2020 1 097 1 057 41 000 Glacier Credit Card Trust 2.568 20-Sep-2019 41 780 41 220 7 150 Great-West Life & Annuity Insurance Capital LP II 3.449 16-May-2046 7 462 8 931 9 550 Great-West Lifeco Inc. 6.140 21-Mar-2018 10 909 9 645 1 500 H&R Real Estate Investment Trust 3.344 20-Jun-2018 1 498 1 510 12 500 H&R Real Estate Investment Trust 2.923 06-May-2022 12 404 12 326 28 000 Hollis Receivables Term Trust II 1.788 26-Feb-2020 28 089 27 719 12 500 Honda Canada Finance Inc. 1.631 12-Aug-2019 12 461 12 413 5 000 Honda Canada Finance Inc. 2.155 18-Feb-2021 5 007 4 969 70 500 HSBC Bank Canada 2.491 13-May-2019 70 500 70 887 27 000 HSBC Bank Canada 2.938 14-Jan-2020 28 329 27 369 6 000 HSBC Bank Canada 2.449 29-Jan-2021 6 000 6 006 9 100 HSBC Bank Canada 2.170 29-Jun-2022 9 100 8 938 32 000 HSBC Bank Canada 2.542 31-Jan-2023 32 000 31 752 10 000 Hydro One Inc. 1.480 18-Nov-2019 10 000 9 897 6 600 Hydro One Inc. 1.620 30-Apr-2020 6 599 6 527 7 000 Inter Pipeline Ltd. 3.839 30-Jul-2018 7 392 7 078 9 000 Inter Pipeline Ltd. 3.448 20-Jul-2020 9 446 9 212 26 500 Loblaw Companies Ltd. 3.748 12-Mar-2019 26 609 27 026 11 200 Manulife Bank of Canada 1.915 01-Sep-2021 11 200 10 953 6 250 Manulife Bank of Canada 2.082 26-May-2022 6 250 6 099 10 000 Metro Inc. 2.680 05-Dec-2022 10 000 9 938 550 National Bank of Canada 2.794 09-Aug-2018 547 554 41 000 National Bank of Canada 2.404 28-Oct-2019 42 366 41 215 17 800 National Bank of Canada 1.742 03-Mar-2020 17 831 17 620 39 200 National Bank of Canada 1.809 26-Jul-2021 39 330 38 402 30 000 National Bank of Canada 1.957 30-Jun-2022 29 535 29 286 5 000 Nissan Canada Financial Services Inc. 1.584 07-Oct-2019 5 000 4 945 17 000 Nissan Canada Financial Services Inc. 2.420 19-Oct-2020 17 028 17 012

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CORPORATE (cont.) 8 000 OMERS Realty Corp. 2.498 05-Jun-2018 $ 8 045 $ 8 030 12 600 Penske Truck Leasing Canada Inc. 2.850 07-Dec-2022 12 599 12 590 20 000 Rogers Communications Inc. 5.380 04-Nov-2019 23 138 21 135 49 700 Rogers Communications Inc. 5.340 22-Mar-2021 56 290 54 067 5 000 Rogers Communications Inc. 4.000 06-Jun-2022 5 324 5 283 1 950 Royal Bank of Canada* 2.980 07-May-2019 1 994 1 975 7 800 Royal Bank of Canada* 2.350 09-Dec-2019 7 989 7 831 35 850 Royal Bank of Canada* 1.920 17-Jul-2020 35 850 35 550 16 000 Royal Bank of Canada* 2.860 04-Mar-2021 16 758 16 241 53 000 Royal Bank of Canada* 2.030 15-Mar-2021 53 506 52 440 29 000 Royal Bank of Canada* 1.583 13-Sep-2021 28 584 28 134 46 300 Royal Bank of Canada* 2.360 05-Dec-2022 46 296 45 849 14 400 Shaw Communications Inc. 5.650 01-Oct-2019 16 018 15 228 19 000 Shaw Communications Inc. 3.150 19-Feb-2021 19 187 19 342 7 500 Sun Life Financial Inc. 5.700 02-Jul-2019 8 617 7 891 11 050 TELUS Corp. 5.050 04-Dec-2019 12 649 11 639 7 400 TELUS Corp. 5.050 23-Jul-2020 8 276 7 893 10 000 TELUS Corp. 3.200 05-Apr-2021 10 255 10 211 16 410 The Manufacturers Life Insurance Co. 2.926 29-Nov-2023 16 373 16 556 13 200 The Manufacturers Life Insurance Co. 2.811 21-Feb-2024 13 200 13 296 19 000 The Manufacturers Life Insurance Co. 2.389 05-Jan-2026 19 000 18 941 3 300 Thomson Reuters Corp. 3.309 12-Nov-2021 3 300 3 383 50 450 Toronto-Dominion Bank 2.447 02-Apr-2019 50 630 50 760 44 200 Toronto-Dominion Bank 1.693 02-Apr-2020 44 200 43 702 18 300 Toronto-Dominion Bank 2.045 08-Mar-2021 18 577 18 145 12 000 Toronto-Dominion Bank 2.621 22-Dec-2021 12 301 12 094 22 300 Toronto-Dominion Bank 1.994 23-Mar-2022 22 300 21 900 10 400 Toronto-Dominion Bank 1.909 18-Jul-2023 10 400 10 032 18 000 Toyota Credit Canada Inc. 2.480 19-Nov-2019 18 187 18 116 8 500 Toyota Credit Canada Inc. 1.800 19-Feb-2020 8 492 8 432 10 000 Toyota Credit Canada Inc. 2.050 20-May-2020 10 004 9 958 5 000 Toyota Credit Canada Inc. 2.020 28-Feb-2022 4 998 4 913 12 000 Toyota Credit Canada Inc. 2.350 18-Jul-2022 11 999 11 921 6 000 Toyota Credit Canada Inc. 2.620 11-Oct-2022 6 000 6 017 5 000 Union Gas Ltd. 5.350 27-Apr-2018 5 543 5 058 5 000 VW Credit Canada Inc. 2.500 01-Oct-2019 4 997 5 018 1 000 VW Credit Canada Inc. 2.150 24-Jun-2020 910 994 20 400 Wells Fargo Canada Corp. 2.780 15-Nov-2018 20 625 20 572 1 500 Wells Fargo Canada Corp. 2.944 25-Jul-2019 1 531 1 520 27 300 Wells Fargo Canada Corp. 3.040 29-Jan-2021 28 774 27 812

2 434 924 2 401 923 43.8 FEDERAL 32 200 Canada Housing Trust No. 1 2.350 15-Dec-2018 33 153 32 449 50 000 Canada Housing Trust No. 1 1.950 15-Jun-2019 50 150 50 187 45 000 Canada Housing Trust No. 1 1.250 15-Dec-2020 44 703 44 155 157 500 Canada Housing Trust No. 1 3.350 15-Dec-2020 168 733 163 978 118 000 Canada Housing Trust No. 1 1.250 15-Jun-2021 118 011 115 119 86 000 Canada Housing Trust No. 1 2.650 15-Mar-2022 93 397 87 992 50 000 Canada Housing Trust No. 1 1.750 15-Jun-2022 49 623 49 265 28 000 Canada Housing Trust No. 1 2.350 15-Sep-2023 28 647 28 215 176 150 Government of Canada 0.500 01-Nov-2018 175 559 174 765 19 000 Government of Canada 3.750 01-Jun-2019 20 556 19 560 18 000 Government of Canada 0.750 01-Aug-2019 17 734 17 745 17 200 Government of Canada 3.500 01-Jun-2020 18 960 17 920

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FEDERAL (cont.) 111 026 Government of Canada 0.750 01-Sep-2020 $ 110 192 $ 108 220 61 600 Government of Canada 0.750 01-Mar-2021 61 511 59 678 18 000 Government of Canada 3.250 01-Jun-2021 20 117 18 870 37 000 Government of Canada 0.750 01-Sep-2021 36 608 35 646 190 000 Government of Canada 0.500 01-Mar-2022 183 122 179 946 47 000 Government of Canada 2.750 01-Jun-2022 51 718 48 828 150 000 Government of Canada 1.500 01-Jun-2023 150 006 146 975

1 432 500 1 399 513 25.5 PROVINCIAL/MUNICIPAL 58 400 Province of Alberta 1.600 15-Jun-2018 57 963 58 484 67 000 Province of Alberta 1.350 01-Sep-2021 66 223 65 285 35 000 Province of British Columbia 2.250 01-Mar-2019 36 203 35 259 25 000 Province of British Columbia 3.250 18-Dec-2021 27

RBC FUNDS AND RBC PRIVATE POOLS 2017 …funds.rbcgam.com/pdf/information/rbc-fs-2017.pdfThe table...

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Transcript of RBC FUNDS AND RBC PRIVATE POOLS 2017 …funds.rbcgam.com/pdf/information/rbc-fs-2017.pdfThe table...